NSI has reached an agreement with Urban Industrial on the sale of 20 industrial assets totalling 80,500m², divesting almost its entire industrial portfolio.
The Dutch investment firm also sold of a number of plots of land in Belgium; the total gross proceeds of these transactions amount to €48.1m - 9.6% below the book value as per 31 December 2015. The proceeds will be used to pursue opportunities in the Dutch office market, in line with NSI’s strategy and renewed investment focus.
The annualised gross rental income of the industrial assets sold amounts to €5m. The transfer of the assets took place on 1 April 2016; CBRE, Royal Haskoning DHV and Loyens & Loeff acted as advisors to NSI in this transaction.
The plots of land in Belgium (18,905m2 in total) are located at the Fabrieksstraat, the Luchthavenlaan and the Leuvensesteenweg in Vilvoorde. The transfer is expected to take place in Q2 2016.
